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Manila Bulletin devider Business devider Clark's investments soar to P44 billion in first quarter

Clark's investments soar to P44 billion in first quarter

Published Mar 18, 2024 01:05 am

Clark Freeport and Special Economic Zone in Pampanga has exceeded its investment target for the first quarter of this year, the Clark Development Corp. (CDC) reported.

During the recent meeting with Investment and Economic Affairs Secretary Frederick Go, Agnes Devanadera, CDC president and chief executive officer, said that Clark Freeport registered P44.5 billion in investments from January to March.

These include the leasing of renewable energy, tourism, semiconductors, electronics, pharmaceuticals, medical devices, green minerals, food and agriculture, and steel.

“This achievement is attributed to the dynamic investment climate in Clark under the well-defined vision and direction of President Ferdinand Marcos Jr.'s administration,” Devanadera said in a statement.

With these investment opportunities, an estimate of 5,833 employees is expected to be generated in the economic zone.

To boost tourism impact, CDC stated that the tourism and leisure estates Donggwang Clark Corp. will inject an additional P20 billion, while BB International Leisure and Resort Development Corp. said that they will infuse P15 billion. 

DeviceDesign Philippines Corp. will also invest P103 million to expand its electronics manufacturing, while Yokohama Tire Philippines, Inc. will add P3.5 billion to upgrade manufacturing and daily output capacity.

In terms of Clark’s economic utilities, Clark Water Corp. are alloting P5.56 billion to boost its services. 

The Philippine Exporter Foundation Region III Inc. will have P30.6 million for the construction of the lifestyle showroom and pasalubong center.

Other companies contributing to a diverse business landscape for Clark are Habibia Corp. will have a P22 million investment, JBW Floor Center Inc. with P5.8 million, Otonari Food OPC with P40 million, and the Nationstar Development Corp. will bring P126.95 million.

“Development projects, including President Marcos Jr.'s legacy projects such as the Clark Multi-Specialty Medical Center [CMSMC] and the National Museum of the Philippines for North and Central Luzon, are currently in progress within the Freeport,” CDC reported.

Transportation developments are also in the works, as the North-South Commuter Railway will soon complete its construction.

Once operational, the railway will connect Clark Freeport to other business districts.

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Clark Freeport and Special Economic Zone Clark Development Corp.
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